danbeaulieu
Short

NFLX - scalping levels for 8/21

NASDAQ:NFLX   NETFLIX INC
With FOMC coming up on 8/21 I think we're likely to see a lot of sideways action throughout the day. Regardless, I'll be watching for some trade setups before the meeting if they arise.

Tentatively, my sentiment is bearish going into tomorrow (8/21) so I'll be watching for short setups off of resistance at the following levels $301.12, $303.21 and $305.30, this $305.30 is a recurring magnet for us these past few weeks. Current major support to watch for is the $298.00 area. The volume profile shows very little volume traded below $296.07 until the $293 - $291 area with our last recent low bottoming out at $288.00. If we get a very deep pullback I may look at calls.

To Summarize:

Leaning Bearish

Resistance $301.12, $303.21 and $305.30
Supports. $298.00, $296.07, $292.65, $288
Comment: Small gap up this morning the $301.12 level will likely be out of play. I have my eye on $298.00 for support for a pullback (rather shallow pullback for NFLX) and $305.30 for resistance for a potential rejection.
Hi- what indicators are you using? Thanks for posting!
Reply
@f3982, support and resistance is drawn, but I base them off the volume profile indicator on. The right of the chart.

My custom Obv indicator below which you can find in my scripts.

Lazy bears colored volume bars

RSI
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out